Finding someone to buy your silver items can take some time, so you need to make sure that you look around and find the best silver dealers West Point has to offer. This way, you can make sure that you get the best price possible for all of your valuables.

A good buyer will carefully assess all of your things to give you an accurate understanding of how much they are worth. You can then use this information to decide what to do. Selling your silver can earn you quite a bit from the right dealer.

Jewelry Gallery

32 S Liberty Dr Ste 10, Stony Point, NY 10980

(845) 429-2613

CRS Gold Buyers

164 S Plank Rd, Newburgh, NY 12550

(845) 561-1720

PRS Gold Buyers

38 S Plank Rd, Newburgh, NY 12550

(845) 561-1721

Apollo Gold & Silver

464 Broadway, Newburgh, NY 12550

(845) 562-0391

United Check Cashing

691-697 Broadway, Suite 104, Newburgh, NY 12550

(845) 562-2654

Hannoush Jewelers

1401 Route 300 Suite 1048, Newburgh, NY 12550

(845) 566-9231

Broadway Jewelers of Newburgh

47 N Plank Rd Ste 3, Newburgh, NY 12550

(845) 562-2299

J & J Stamp & Coin Co

80 Old Little Britain Rd, Newburgh, NY 12550

(845) 562-5940

Joseph's Fine Jewelry

14 Flemming Dr, Newburgh, NY 12550

(845) 565-4766

Silver & Gold Connection

1401 Route 300 Ste K004, Newburgh, NY 12550

(845) 566-9983

Kay Jewelers

NEWBURGH Mall, Newburgh, NY 12550

(845) 564-2205

Kay Jewelers

1401 Route 300 Suite 1102, Newburgh, NY 12550

(845) 564-2205

Floral Rosary

10 Victoria Dr, Newburgh, NY 12550

(845) 597-8776

Dmk Designs

4 Fairview Ln, Newburgh, NY 12550

(845) 562-6545

Tactics That Successful Silver Dealers Use

Silver is a commodity. That means that any single ounce of silver is worth the same as any other ounce of silver at the same purity level. It's been used as money in a variety of cultures and silver dealers use tactics to buy and sell silver and make a profit. Here is how they do it.

Wholesale Markup

Silver dealers are in business to make money and they often do it by buying silver coins or bullion at wholesale prices. Perhaps they were able to buy a silver coin for the rock bottom price of $15. When these coins become scarce in the market, the dealer may choose to offer them to a collector. Collectors pay a higher price and remove the coins from circulation. The dealer makes a profit on the markup over the wholesale price that he paid.

Replacement Cost Price

A dealer should never sell anything for less than the cost of what it would take to replace it. That's the philosophy of most successful dealers in metals. They take the long view and buy silver when it reaches a low. Let's use the same number we used above. Say they bought an ounce for $15.

That's a good buy because the price of silver typically goes for more than that. To gain a profit, the dealer will have to hold onto the bullion until the price rises. At that point, he must sell it at a price no lower than what it would cost him to replace it. If silver has risen to $30 an ounce, he's made a tidy profit when he sells.

The first tactic requires finding the right kind of buyer in order to make a profit. The second one requires patience while waiting for the market to change. Both can be very lucrative.